NEW YORK, June 25, 2026, 08:04 (EDT)
- Ondas dropped 9.96% to finish Wednesday at $7.68, but was last seen at $7.98 ahead of Thursday’s Nasdaq open.
- Ondas filed a prospectus June 22 to register 3.13 million shares for resale by acquisition sellers. The company said it isn’t getting any proceeds.
- Ondas said it booked over $40 million in defense orders for June, with orders in the second quarter so far topping $150 million.
Ondas Inc (NASDAQ:ONDS) faced a supply overhang while demand played out on Thursday, leaving the defense-drone stock tough to value.
The stock dropped nearly 10% Wednesday, closing at $7.68 after touching $7.64 at its session low. Premarket quotes had the shares at $7.98 ahead of Nasdaq’s 9:30 a.m. open.
Ondas has issued 16.8 million shares from May 21 through June 22 for Omnisys Ltd, according to the company. That figure is less discussed. The total includes 3.125 million shares issued on Monday. The 16.8 million shares represent about 3.2% of the 523.4 million shares shown in the prospectus ownership table.
Resale plans now include 3,126,979 shares, according to the latest prospectus. Nearly all are from Omnisys holders, with a smaller part from World View holders. Omnisys selling is capped at 15% of the 10-day average daily volume. World View holders are limited to 5% of the previous day’s volume. Ondas won’t get any proceeds, the company said.
Order backlog is up, but Ondas is still using stock to pay for deals. The company put the Omnisys price at $196.6 million, all in shares: $29 million paid at close, $142.5 million in five chunks, and the rest set for the 24th day after closing.
Ondas said June orders for autonomous defense systems now top $40 million, lifting quarter-to-date orders above $150 million. CEO Eric Brock said “Counter-UAS has become an urgent priority” as governments push back on drone threats. Ondas inc.
Another driver was news from Ondas’ Sentrycs unit, announcing it will fit its Cyber-over-RF tech into Lockheed Martin’s (NYSE:LMT) Sanctum C-UAS system. Matt Bahnemann, a senior manager at Lockheed Martin, said the Sanctum setup is a “modular, open Counter-UAS architecture.” Ondas inc.
Ondas is also adding scale. The company said June 18 it would buy Cyberhawk in a deal worth about $125 million. About 95% of that will come in cash, with Cyberhawk leaders committing about $5 million to Ondas stock under a one-year lock-up. Ondas said Cyberhawk should bring in more than $45 million in revenue for the year ending March 2027 and reported a $95 million backlog.
The stock was already dealing with supply overhang before the resale filing. On June 2, a Form 4 showed Brock got 4.5 million shares from RSU vesting and sold 2.38 million at $13.43 to cover possible taxes. After those moves, he directly held 3.58 million shares and another 1.15 million through Privet Ventures LLC.
Wall Street is still bullish. Google Finance showed seven Buys, no Holds or Sells, with a $20.14 average target for the next year. Needham’s Austin Bohlig stuck with a Buy and a $23 target on June 22, matching the most recent resale filing and order update.
Google Finance lists average volume at 78.6 million shares. The recent resale block of 3.13 million shares is around 4% of that, but there are still more Omnisys stock payments coming. Shares are trading close to half their 52-week high of $15.28.
